By Singapore Newsroom
Nikkei Markets
SINGAPORE (Nov 02) -- Global Palm Resources Holdings, an Indonesia-based and Singapore-Listed oil palm producer, said Thursday it expects to report a lower net profit after tax for the third quarter ended Sep. 30 on year, due to foreign exchange differences.
The lower profit after tax can be attributed to the foreign exchange differences due to depreciation of Indonesian rupiah (IDR) against Singapore dollar (SGD) "in relation to the holding company's IDR denominated inter-company non-working capital financing for its subsidiary, the depreciation of IDR against SGD for the holding company's IDR bank balances held and the depreciation of USD against SGD for the USD bank balances held," the company said in an exchange filing.
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